Regional banking company Home Bancshares (NYSE: HOMB) will be announcing earnings results this Wednesday after market close. Here’s what you need to know.
Home Bancshares beat analysts’ revenue expectations by 2.7% last quarter, reporting revenues of $260.1 million, up 5.6% year on year. It was a satisfactory quarter for the company, with a narrow beat of analysts’ net interest income estimates.
Is Home Bancshares a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Home Bancshares’s revenue to grow 2% year on year to $260.6 million, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $0.57 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Home Bancshares has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 1.9% on average.
Looking at Home Bancshares’s peers in the banks segment, only FB Financial has reported results so far. It missed analysts’ revenue estimates by 43.5%, posting year-on-year sales declines of 40.1%.
Read our full analysis of FB Financial’s earnings results here.There has been positive sentiment among investors in the banks segment, with share prices up 11.6% on average over the last month. Home Bancshares is up 6.8% during the same time and is heading into earnings with an average analyst price target of $32.29 (compared to the current share price of $29.51).
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